March 22, 2023

Union Finance Minister Nirmala Sitharaman on Wednesday said that she has asked the bankers to open more branches in the districts where there is no adequate number of bank branches in Nagaland.

After a three-day visit to Nagaland, the Union Finance Minister said, “From the Finance Ministry sides we would see enough bank excess in all the districts. Banking facilities can be availed through the mobile banking facilities. There are 271 bank branches functioning in different districts of Nagaland with 94 branches in Dimapur.”

Sitharaman said, “Government wants financial inclusion of all people and to reach the benefits of all government schemes to all the eligible people.”

The Finance Minister said that under the tax devolution, the state got Rs 13,782 crore in 2014-2019 from the center while it received Rs 3,844 crore in 2009-2014.

She said that under the category of grants and aid, Nagaland received Rs 29,483 crore in 2014-2019 from the centre against Rs 20,812 crore during the period of 2009-2014. In the current fiscal (2022-23), the state got the Finance Commission grants of Rs 4,773 crore.

She said that under the Prime Minister’s Development Initiative for North-East (PM-DevINE), she said that under the scheme Nagaland may submit capital expenditure projects up to an amount of Rs 1,600 crore.

She said that 17 of the 38 projects completed in Nagaland and Kohima city alone got Rs 245 crore under the mission.

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